Operator

Good morning, ladies and gentlemen, thank you for standing by. Welcome to the Crown Castle International and Global Signal conference call. At this time all participants are in a listen-only mode. Following today's presentation, instructions will be given for the question and answer session. If anyone should require operator assistance during the conference, please press the star key followed by the zero. As a reminder, this conference is being recorded today, Friday, October 6, 2006.

I would now like to turn the conference over to Jay Brown, Crown Castle's Treasurer. Please go ahead, sir.

Jay Brown

Good morning, everyone, and thank you for joining us we discuss the Crown Castle and Global Signal merger that we announced earlier this morning. With me on the call this morning are John Kelly, Crown Castle's Chief Executive Officer, and Ben Moreland, Crown Castle's Chief Financial Officer, as well as Jerry Elliot, Global Signal's Chief Executive Officer, and Steve Osgood, Global Signal's Chief Financial Officer.

This conference call is going to contain a number of forward-looking statements and information based on management's current expectations. Although the companies believe that the expectations reflected in such forward-looking statements are reasonable, it can give no assurances that such expectations will have proved to have been correct. Such forward- looking statements are subject to certain risks, uncertainties and assumptions. Information about the potential risk factors that could affect the company's financial results are available in the press release and in the Risk Factor sections of the companies' respective filings with the SEC. Should one or more of these or other risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary significantly from those expected.

In addition, today's call includes discussions of certain non-GAAP financial measures including adjusted EBITDA, recurring cash flow and recurring cash flow per share. Tables reconciling such non-GAAP financial measures are available under the respective sections of the investors sections of the companies' websites. With that I'll turn the call over to John. John.

John Kelly

Thanks, Jay, and thanks to all of you for joining us this morning as we discuss the very exciting news we announced earlier today.

As you saw, Crown Castle announced our definitive agreement to acquire Global Signal for approximately $5.8 billion in stock and cash including the